ED issues notice to NDTV, Prannoy Roy, wife Radhika & Vikram Chandra for Rs.4369 cr. FEMA violations with help of Chidambaram

More NDTV frauds - Chidambaram bypassed CCEA while approving FDI over Rs.600 crores and a link to Aircel-Maxis scam

More NDTV frauds - Chidambaram bypassed CCEA while approving FDI over Rs.600 crores and a link to Aircel-Maxis scam
More NDTV frauds - Chidambaram bypassed CCEA while approving FDI over Rs.600 crores and a link to Aircel-Maxis scam

The Enforcement Directorate (ED) on Thursday slapped notice to NDTV and its owner Prannoy Roy and wife Radhika Roy and the senior-most staffer Vikram Chandra for Foreign Exchange violation (FEMA Notice) of Rs.4369 crores. Roy and wife were caught for illegal Foreign Investment Proposal Board (FIPB)  approval given by tainted former Finance Minister P Chidambaram, who is also expected to be co-accused soon in this money round-tripping case. Interestingly, notices were served to Maxis subsidiary firm Astro also for round-tripping with NDTV.

As per the ED’s statement, FEMA violations happened in receipt of foreign investment granted by Chidambaram to the extent of Rs.1637 crores and another overseas investment to the tune of Rs.2732 crores.

“The investigation revealed that NDTV received a Foreign Direct Investment (FDI) of Rs.725 crores and that only CCEA (Cabinet Committee on Economic Affairs) was competent to permit foreign direct investment in excess of Rs.600 crores, in the case of NDTV but no CCEA approval taken,” said ED in a statement. In the wake of ED’s case, CBI is expected to file another charge sheet against Chidambaram soon for violations in foreign investments. CBI and ED have already found that Chidambaram and son have the habit of taking bribes for approving foreign investments.

The money is routed through Chidambaram’s Aircel-Maxis scam co-accused Maxis’ subsidiary firms Astro and South Asia Creative Assets. The illegal money was pumped to Prannoy Roy’s shell firms NDTV Lifestyle and NDTV Imagine said sources.

ED has unearthed the frauds of Prannoy Roy with the help of RBI’s vigilance wing and it is learned that former RBI Governor Raghuram Rajan tried to hush up these details to ED. It is learned that in coming days CBI is going to take tough action against the money laundering channel and its illegal deals with tainted Chidambaram.

23 COMMENTS

  1. We are all sick and tired and want to know when Chidambaram and party will be convicted and sentenced. I wonder whether it will really happen. Modi has done a great job, but is still under pressure from the corrupt legacy . Oh India, I cry for you, may this corrupt people die and you rise from their ashes

  2. for those feeling frustrated.

    it is unlikely that any government can take swift action on such cases. Primarily thank to pliant judges in courts .
    But these notices can put good strain on resources of NDTV, no lawyer, even friend, will take up such cases for free. NDTV already in huge trouble running the channel. It’s new crew is at best stammering while most old lot left.
    May not be at law but NDTV will meet ignominious end

  3. Finance Ministry under Modi is fully reporting to Chidambaram through AJ – as an extension of UPA-II

    CBI is currently working 50% under Ahmed Patel & the balance 50% are Officers with integrity

    That criminals like Hasmukh Adhia & gang still continue & implement their nefarious agendas is proof enough to show that Modi is under some kind of black-mail by the criminal gang.

    It’s imperative that RSS puts it’s strong foot forward & ensure that the Government & the Ministries are rid of ‘Trojan Horses like Jaitley’ & ‘criminals like Hasmukh Adhia & Rakesh Asthana et al’

  4. One is increasingly feeling tired of this. To issue a notice from ED it has taken 10 years. Needless to mention that this notice will be contested . In the event of a change of Govt all these cases will fall through and the accused will walk holding their heads high. The honest tax paying common man is always a fool and object of ridicule.

  5. Notices and raids have happened before in so many cases but people roam around freely and worse is that these people get felicitated at various gatherings. We can only celebrate when ED and / CBI can produce evidence and charge them. We have 2G scam people walk free because the agencies could not produce the evidence before the judge. I am afraid there is many a slip between the hand and the lip. Kudos to PGururs and Swamy for continuing the fight.

  6. To divert people from RAFALE DEAL. Let the present govt prove themselves. Harassing people who don’t oblige them by tainting them with fraudulence. Ppl who oblige this present govt corrupt in so many other ways including money laundering is left to continue in heavy fraudulence.

  7. To conclude our leaders in power and in opposition are not corrupt, they are all sincere and wants to do good for our country! It is common people like us who is to be blamed for voting them in and out of power! This is the essence of our democracy!

  8. Swami & P Gurus are painfully forging ahead despite sabotage from finance ministry officials. They must be applauded by every right thinking Indian.
    They are removing obstacle after obstacle with out any support from any quarters.
    Respects to PGurus & Swami

    • True but it is the honest govt. officials who are setting the coordinates right. Those honest officers should be fully supported by common ppl. like us.

  9. In China they make you confess in front of a judge. In a month procedure is over and taken to the squad, a bullet is put and file closed.

  10. Law is not only having a long arm to hit it’s bolsters. But it takes very long time to lift the arm to give the blow. No case especially involving ones who wielded enormous power and well networked has ever been hit swiftly so far, given the tardiness of our justice delivery system. The least that one can think of in the given situation is that the SC should restrain the EC from allowing persons under proceedings for economic offences to contest any election in any party’s ticket or even as an independent candidate till that person is cleared by law.

  11. The great Rajan had tried to hush up this case also. May be Rajan has so many cases to be hushed up as a gratitude to Chidambaram and barwaitresd

  12. The great so called Rajan has hushed up this case also. Why can’t ED ask him to give all the particulars of those which he had hushed up during his tenure as gratitude to Chidambaram and barwaitress

  13. Since shri Iyer exposed NDTV, only notice after notices are being issued like “ thareeq pe thareeq “ in courts. When is the action going to commence ? Attach NDTV assets and freeze bank accounts. Whose permission is required ?

  14. Oh some good news atlast Sure Shakuni will hush up and 56″ will pretend to be asleep.
    All the good work done by Dr Swamy PGurus and ED officers is hushed up by Shakuni and his Babu’s and 56 ” gives BHASHAN.

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